The Division shall administer the Nevada Cultural Account and may expend only the amount of any gifts, grants, donations, interest and income credited to the Account to:

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1.  Provide resources for developing the artistic, administrative and financial stability of cultural organizations that serve and enrich communities throughout this state regarding the arts and humanities;

2.  Support programs and projects that provide residents of and visitors to this state with access to a broad range of activities regarding the arts and humanities;

3.  Encourage cultural organizations to reduce their deficits, to establish cash reserves and endowments and to engage in capital projects that will aid in their stabilization; and

4.  Support initiatives and organizations that encourage access to, the awareness of and education in the arts.